SERS PICK-UP. A. For purposes of this Article, total annual salary and salary per pay period for each member shall be the salary otherwise payable under this Agreement, as amended. The total annual salary and salary per pay period of each member shall be payable by the Board in two parts: (1) deferred salary and (2) cash salary. A member’s deferred salary shall be equal to that percentage of said member’s total annual salary or salary per pay period which is required from time to time by the State Employment Retirement System (“SERS”) to be paid as an employee contribution by said member and shall be paid by the Board to SERS on behalf of said member as a “pickup” of the SERS employee contribution otherwise payable by said member. A member’s cash salary shall be equal to said member’s total annual salary or salary per pay period less the amount, subject to applicable payroll deductions, to said member. The Board’s total combined expenditures for members’ total annual salaries otherwise payable under this Agreement, as amended, (including pickup amounts) and its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect. B. The Board shall fulfill its income tax reporting and withholding responsibilities for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report as an employee’s gross income his/her total annual salary less the amount of the pick-up while applicable municipal income tax laws require it to report as an employee’s gross income his/her total annual salary including the amount of the pick-up. C. The pickup shall be included in the member’s hourly rate for the purpose of computing hourly rate, overtime rate, for determining pay adjustments to be made due to absence, or for any other similar purpose. D. Should the Internal Revenue Service determine that the deferred salary would be treated as current taxable income for federal income tax purposes, this section will be void and inoperable.
Appears in 15 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
SERS PICK-UP. A. For purposes of this Article, total annual salary and salary per pay period for each member shall be the salary otherwise payable under this Agreement, as amended. The total annual salary and salary per pay period of each member shall be payable by the Board in two parts: :
(1) deferred salary and (2) cash salary. A member’s deferred salary shall be equal to that percentage of said member’s total annual salary or salary per pay period which is required from time to time by the State Employment Retirement System (“SERS”) to be paid as an employee contribution by said member and shall be paid by the Board to SERS on behalf of said member as a “pickup” of the SERS employee contribution otherwise payable by said member. A member’s cash salary shall be equal to said member’s total annual salary or salary per pay period less the amount, subject to applicable payroll deductions, to said member. The Board’s total combined expenditures for members’ total annual salaries otherwise payable under this Agreement, as amended, (including pickup amounts) and its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
B. The Board shall fulfill its income tax reporting and withholding responsibilities for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report as an employee’s gross income his/her total annual salary less the amount of the pick-up while applicable municipal income tax laws require it to report as an employee’s gross income his/her total annual salary including the amount of the pick-up.
C. The pickup shall be included in the member’s hourly rate for the purpose of computing hourly rate, overtime rate, for determining pay adjustments to be made due to absence, or for any other similar purpose.
D. Should the Internal Revenue Service determine that the deferred salary would be treated as current taxable income for federal income tax purposes, this section will be void and inoperable.
Appears in 7 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
SERS PICK-UP. A. 1. For purposes of this Article, total annual salary and salary per pay period for each bargaining unit member shall be the salary otherwise payable under this Agreement, as amended. The total annual salary and salary per pay period of each member shall be payable by the Board in two parts: (1) deferred salary and (2) cash salary. A member’s deferred salary shall be equal to that percentage of said member’s total annual salary or salary per pay period which is required from time to time by the State Employment Retirement System (“SERS”) to be paid as an employee contribution by said member and shall be paid by the Board to SERS on behalf of said member as a “pickup” of the SERS employee contribution otherwise payable by said member. A member’s cash salary shall be equal to said member’s total annual salary or salary per pay period less the amountamount of the pickup for said member and shall be payable, subject to applicable payroll deductions, to said member. The Board’s total combined expenditures for members’ total annual salaries otherwise payable under this Agreement, as amended, (including pickup amounts) and its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
B. 2. The Board shall fulfill compute and remit its income tax reporting and withholding responsibilities employer contribution to SERS based upon total annual salary, including the “pickup”. The Board shall report for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report purposes as an employeea member’s gross income his/her said member’s total annual salary less the amount of the pick-up while applicable “pickup”. The Board shall report for municipal income tax laws require it to report purposes as an employeemember’s gross income his/her said member’s total annual salary salary, including the amount of the pick-uppickup. The Board shall compute income tax withholding based upon gross income as reported to the respective taxing authorities.
C. 3. The pickup shall be included in the member’s hourly rate total annual salary for the purpose of computing hourly rate, overtime ratedaily rate of pay, for determining pay paid salary adjustments to be made due to absence, or for any other similar purpose.
D. 4. Should the Internal Revenue Service determine that the deferred salary would be treated as current taxable income for federal income tax purposes, this section will be void and inoperable.
5. This provision will become effective with the first pay after the effective date of this Agreement.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
SERS PICK-UP. A. For purposes 20.01 The EMPLOYER shall designate each employee's mandatory contributions to the State Employees Retirement System of this ArticleOhio as "picked up" by the EMPLOYER as contemplated by Internal Revenue Service Revenue Rulings 77-464 and 81-36, total annual salary although they shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-097, in order that the amount of the employee's income reported by the BOARD as subject to Federal and salary per pay period for each member Ohio income tax shall be the salary otherwise payable under this Agreementemployee's total gross income reduced by the then-current percentage amount of the employee's mandatory State Employees Retirement System contribution which has been designated as "picked up" by the EMPLOYER, and that the amount designated as amended. The total annual salary and salary per pay period of each member "picked up" by the EMPLOYER shall be payable included in computing final average earnings, provided that no employee's total earnings is increased by such "pick up," nor is the Board in two parts: (1) deferred salary and (2) cash salary. A member’s deferred salary shall be equal EMPLOYER'S total contributions to that percentage of said member’s total annual salary or salary per pay period which is required from time to time by the State Employment Retirement System (“SERS”) system increased thereby.
A. The pick-up percentage shall apply uniformly to be paid as an employee contribution by said member and shall be paid by all members of the Board to SERS on behalf of said member bargaining unit as a “pickup” condition of the SERS employee contribution otherwise payable by said member. A member’s cash salary shall be equal to said member’s total annual salary or salary per pay period less the amount, subject to applicable payroll deductions, to said memberemployment. The Board’s total combined expenditures for members’ total annual salaries otherwise payable under this Agreement, as amended, (including pickup amounts) and its employer contributions pick-up shall apply to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effectall compensation thereafter.
B. The Board shall fulfill its income tax reporting and withholding responsibilities for each employee in such manner as is required by applicable federal, state and local laws parties agree that should the rules and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report as an employee’s gross income his/her total annual salary less the amount of the pick-up while applicable municipal income tax laws require it IRS, or retirement system change making this procedure unworkable, the parties agree to report as an return, without penalty, to the former method of employee’s gross income his/her total annual salary including the amount of the pick-upemployer contributions.
C. The pickup Payment for sick leave, personal leave and severance, including unemployment and worker's compensation, shall be included in based on the member’s hourly rate for employee's daily gross pay prior to reduction as basis (e.g., gross pay divided by the purpose number of computing hourly rate, overtime rate, for determining pay adjustments days scheduled to be made due to absence, or for any other similar purposework).
D. Such earnings reduction shall not result in any earnings which may be less than any minimum earnings required under State law. Should the Internal Revenue Service determine reduction calculation result in an earning that is less than any minimum required under State law, a pro rata reduction shall result with the deferred salary would employee contributing that portion which falls below such minimum as may be treated as current taxable income required by State law.
E. It is to be understood by the parties that it is the responsibility of each individual employee to make any necessary adjustments in any other tax sheltered annuities he or she has in order to be in compliance with IRS law and regulations.
F. The EMPLOYER is not liable, nor will it be held responsible, for federal income tax purposesany related legal, IRS, SERS, or any other agencies' penalties or decisions concerning this section will be void plan, now or in the future.
G. The UNION, and inoperableits members, both severally and individually, agree to indemnify and hold the BOARD harmless against any and all claims and actions that shall arise out of or by reason of any action taken by the BOARD in compliance with the provisions of this Article.
Appears in 3 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
SERS PICK-UP. A. For purposes of this Article, total annual salary and salary per pay period for each bargaining unit member shall be the salary otherwise payable under this Agreement, as amended. The total annual salary and salary per pay period of each member shall be payable by the Board in two parts: (1) deferred salary and (2) cash salary. A member’s deferred salary shall be equal to that percentage of said member’s total annual salary or salary per pay period which is required from time to time by the State Employment Retirement System (“SERS”) to be paid as an employee contribution by said member and shall be paid by the Board to SERS on behalf of said member as a “pickup” of the SERS employee contribution otherwise payable by said member. A member’s cash salary shall be equal to said member’s total annual salary or salary per pay period less the amountamount of the pickup for said member and shall be payable, subject to applicable payroll deductions, to said member. The Board’s total combined expenditures for members’ total annual salaries otherwise payable under this Agreement, as amended, (including pickup amounts) and its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
B. . The Board shall fulfill compute and remit its income tax reporting and withholding responsibilities employer contribution to SERS based upon total annual salary, including the “pickup.” The Board shall report for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report purposes as an employeea member’s gross income his/her said member’s total annual salary less the amount of the pick-up while applicable “pickup.” The Board shall report for municipal income tax laws require it to report purposes as an employeemember’s gross income his/her said member’s total annual salary salary, including the amount of the pick-up.
C. pickup. The Board shall compute income tax withholding based upon gross income as reported to the respective taxing authorities. The pickup shall be included in the member’s hourly rate total annual salary for the purpose of computing hourly rate, overtime ratedaily rate of pay, for determining pay paid salary adjustments to be made due to absence, or for any other similar purpose.
D. . Should the Internal Revenue Service determine that the deferred salary would be treated as current taxable income for federal income tax purposes, this section will be void and inoperable. This provision will become effective with the first pay after the effective date of this Agreement.
Appears in 3 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
SERS PICK-UP. A. For purposes 20.01 The EMPLOYER shall designate each employee's mandatory contributions to the State Employees Retirement System of this ArticleOhio as "picked up" by the EMPLOYER as contemplated by Internal Revenue Service Revenue Rulings 77-464 and 81-36, total annual salary although they shall continue to be designated as employee contributions as permitted by Attorney General Opinion 82-097, in order that the amount of the employee's income reported by the BOARD as subject to Federal and salary per pay period for each member Ohio income tax shall be the salary otherwise payable under this Agreementemployee's total gross income reduced by the then-current percentage amount of the employee's mandatory State Employees Retirement System contribution which has been designated as "picked up" by the EMPLOYER, and that the amount designated as amended. The total annual salary and salary per pay period of each member "picked up" by the EMPLOYER shall be payable included in computing final average earnings, provided that no employee's total earnings is increased by such "pick-up," nor is the Board in two parts: (1) deferred salary and (2) cash salary. A member’s deferred salary shall be equal EMPLOYER'S total contributions to that percentage of said member’s total annual salary or salary per pay period which is required from time to time by the State Employment Retirement System (“SERS”) system increased thereby.
A. The pick up percentage shall apply uniformly to be paid as an employee contribution by said member and shall be paid by all members of the Board to SERS on behalf of said member bargaining unit as a “pickup” condition of the SERS employee contribution otherwise payable by said member. A member’s cash salary shall be equal to said member’s total annual salary or salary per pay period less the amount, subject to applicable payroll deductions, to said memberemployment. The Board’s total combined expenditures for members’ total annual salaries otherwise payable under this Agreement, as amended, (including pickup amounts) and its employer contributions pick up shall apply to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effectall compensation thereafter.
B. The Board shall fulfill its income tax reporting and withholding responsibilities for each employee in such manner as is required by applicable federal, state and local laws parties agree that should the rules and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report as an employee’s gross income his/her total annual salary less the amount of the pick-up while applicable municipal income tax laws require it IRS, or retirement system change making this procedure unworkable, the parties agree to report as an return, without penalty, to the former method of employee’s gross income his/her total annual salary including the amount of the pick-upemployer contributions.
C. The pickup Payment for sick leave, personal leave and severance, including unemployment and worker's compensation, shall be included in based on the member’s hourly rate for employee's daily gross pay prior to reduction as basis (e.g., gross pay divided by the purpose number of computing hourly rate, overtime rate, for determining pay adjustments days scheduled to be made due to absence, or for any other similar purposework).
D. Such earnings reduction shall not result in any earnings which may be less than any minimum earnings required under State law. Should the Internal Revenue Service determine reduction calculation result in an earning that is less than any minimum required under State law, a pro rata reduction shall result with the deferred salary would employee contributing that portion which falls below such minimum as may be treated as current taxable income required by State law.
E. It is to be understood by the parties that it is the responsibility of each individual employee to make any necessary adjustments in any other tax sheltered annuities he or she has in order to be in compliance with IRS law and regulations.
F. The EMPLOYER is not liable, nor will it be held responsible, for federal income tax purposesany related legal, IRS, SERS, or any other agencies' penalties or decisions concerning this section will be void plan, now or in the future.
G. The UNION, and inoperableits members, both severally and individually, agree to indemnify and hold the BOARD harmless against any and all claims and actions that shall arise out of or by reason of any action taken by the BOARD in compliance with the provisions of this Article.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
SERS PICK-UP. A. For purposes The Board Treasurer shall contribute to the School Employees Retirement System (SERS), in addition to the Board's required employer contribution, an amount equal to each employee's contribution in lieu of this Article, payment to such employee. The amount contributed by the Board on behalf of the employee shall be treated as a mandatory wage reduction from the hourly wage otherwise payable to such nonteaching employees.
B. The total annual salary and salary per pay period wage for each member employee shall be the salary wage otherwise payable under this Agreement, as amendedhis/her contracts. The total annual salary and salary per pay period of each member hourly wage shall be payable by the Board in two (2) parts: (1) deferred salary wage; and (2) cash salarywage. A member’s An employee's deferred salary wage shall be equal to that percentage of said member’s the employee's total annual salary or salary per pay period wage which is required from time to time by the State Employment Retirement System (“SERS”) SERS to be paid as an employee contribution by said member the employee and shall be paid by the Board to SERS on behalf of said member the employee as a “pickup” "pick-up" of the SERS employee contribution otherwise payable by said memberthe employee. A member’s An employee's cash salary wage shall be equal to said member’s the employee's total annual salary or salary per pay period wage less the amountamount of the "pick-up" for the employee and shall be payable, subject to applicable payroll deductions, to said member. the employee.
C. The Board’s 's total combined expenditures for members’ employee's total annual salaries wages otherwise payable under this Agreement, as amended, their contracts (including pickup "pick-up" amounts) and its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
B. D. The Board shall fulfill compute and remit its income tax reporting and withholding responsibilities employer contributions to SERS based upon the total annual wage, including the "pick-up." The Board shall report for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report purposes as an employee’s 's gross income his/her the employee's total annual salary wage less the amount of the "pick-up while applicable up." The Board shall report for municipal income tax laws require it to report purposes as an employee’s 's gross income his/her the employee's total annual salary wage, including the amount of the "pick-up." The Board shall compute income tax withholding based upon gross income as reported to the respective tax authorities.
C. E. The pickup "pick-up" shall be included in the member’s hourly rate employee's total annual wage for the purpose of computing hourly rate, overtime rate, for determining pay salary adjustments to be made due to absence, or for any other similar purposepurposes.
D. Should F. The "pick-up" shall be a uniform percent for all nonteaching employees, and it shall apply to all payroll payments made after the effective date of this provision and shall not be at the individual employee's option.
G. The current taxation or deferred taxation of the "pick-up" is determined solely by the Internal Revenue Service determine (IRS), and compliance with this Section does not guarantee that the deferred salary would tax on the "pick-up" will be treated as current taxable income for federal income deferred. If the IRS or other governmental entity declares the "pick-up" not to be tax purposesdeferred, this section will Section shall be null and void and inoperablethe SERS contribution procedure in place prior to the effective date of this provision shall be in effect.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
SERS PICK-UP. A. For purposes of this Article, total annual salary and salary per pay period for each member shall be the salary otherwise payable under this Agreement, as amended. The total annual salary wages and salary wages per pay period of each member employee shall be payable by the Board in two (2) parts: (1) deferred salary and (2) cash salary. A member’s An employee's deferred salary shall be equal to that percentage of said member’s employee's total annual salary or salary per pay period which is required from time to time by the State Employment School Employees Retirement System (“SERS”) to be paid as an employee contribution by said member employee and shall be paid by the Board to SERS on behalf of said member employee as a “pickup” "pick-up" of the SERS employee contribution otherwise payable by said memberemployee. A member’s An employee's cash salary shall be equal to said member’s employee's total annual salary wages or salary wages per pay period less the amountamount of the pick-up for said employee and shall be payable, subject to applicable payroll deductions, to said memberemployee. The Board’s 's total combined expenditures for members’ an employee's total annual salaries wages otherwise payable under this Agreement, as amended, (including pickup pick-up amounts) and an its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
B. The Board shall fulfill compute and remit its income tax reporting and withholding responsibilities employer contributions to SERS based upon total annual salary, including the "pick-up." The Board shall report for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report purposes as an employee’s 's gross income his/her said employee's total annual salary wages less the amount of the pick-up while applicable "pick- up." The Board shall report for municipal income tax laws require it to report purposes as an employee’s 's gross income his/her said employee's total annual salary wages, including the amount of the pick-up. The Board shall income tax withholding based upon gross income as reported to the respective taxing authorities.
C. The pickup pick-up shall be included in the member’s hourly rate employee's total annual wages for the purpose of computing hourly rate, overtime ratedaily rate of pay, for determining pay paid wages adjustments to be made due to absence, or for any other similar purpose.
D. Should the Internal Revenue Service determine that the deferred salary would be treated as current taxable income for federal income tax purposes, this section will be void and inoperable.
Appears in 1 contract
Samples: Collective Bargaining Agreement
SERS PICK-UP. A. For purposes of this Article19.1 The Board agrees to “pick-up” each employee’s SERS contribution, total annual at no cost to the Board, using the “salary and salary per pay period for each member shall be the salary otherwise payable under this Agreement, as amendedreduction” method. The total annual salary and salary per pay period of each member shall be payable amount contributed by the Board in two parts: (1) deferred salary and (2) cash salary. A member’s deferred salary on behalf of the employee shall be equal treated as a mandatory reduction from the contract wages otherwise payable to that percentage such employee, for the purpose of said memberfederal and state income tax only. This amount is currently tax-deferred for purposes of the employee’s federal and state income tax.
19.2 The Employer shall compute and remit its employer contributions to SERS based upon the employee’s total annual salary or salary per pay period which is required from time to time by wages, including the State Employment Retirement System (“SERS”) to be paid "pick-up." For federal and Ohio income tax purposes, the Employer shall report as an employee contribution by said member and the employee's gross income the total annual wages less the amount of the "pick-up." For municipal income tax purposes, the Employer shall report as the employee's gross income the total annual wages, including the amount of the "pick-up." Income tax withholding shall be paid by computed based upon gross income as reported to the Board to SERS on behalf of said member as a “pickup” of the SERS employee contribution otherwise payable by said member. A member’s cash salary shall be equal to said member’s total annual salary or salary per pay period less the amount, subject to applicable payroll deductions, to said member. respective tax authorities.
19.3 The Board’s 's total combined expenditures for members’ employees' total annual salaries wages otherwise payable under this Agreement, as amended, their contracts (including pickup "pick-up" amounts) and its employer contributions to SERS shall not be greater than the amounts amount it would have paid for those items had this provision not been in effect.
B. 19.4 The Board shall fulfill its income tax reporting and withholding responsibilities for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report as an employee’s gross income his/her total annual salary less the amount of the pick-up while applicable municipal income tax laws require it to report as an employee’s gross income his/her total annual salary including the amount of the "pick-up.
C. The pickup " shall be included in the member’s hourly rate employee's total annual wages for the purpose of computing hourly rate, overtime ratedaily rate of pay, for determining pay salary adjustments to be made due to absence, or for any other similar purposepurposes.
D. Should 19.5 The "pick-up" shall be a uniform percent for all employees, and it shall apply to all payroll payments made after the effective date of this provision and shall not be at the individual employee's option.
19.6 The current taxation or deferred taxation of the "pick-up" is determined solely by the Internal Revenue Service determine (IRS), and compliance with this section does not guarantee that the deferred salary would tax on the "pick- up" will be treated as current taxable income for federal income deferred. If the IRS or other governmental entity declares the "pick-up" not to be tax purposesdeferred, the Board will be held harmless and this section will shall be void null and inoperablevoid.
Appears in 1 contract
Samples: Collective Bargaining Agreement
SERS PICK-UP. A. For purposes of this Article, total annual salary and salary per pay period for each member shall be the salary otherwise payable under this Agreement, as amended. The total annual salary wages and salary wages per pay period of each member employee shall be payable by the Board in two (2) parts: (1) deferred salary and (2) cash salary. A member’s An employee's deferred salary shall be equal to that percentage of said member’s employee's total annual salary or salary per pay period which is required from time to time by the State Employment School Employees Retirement System (“SERS”) to be paid as an employee contribution by said member employee and shall be paid by the Board to SERS on behalf of said member employee as a “pickup” "pick-up" of the SERS employee contribution otherwise payable by said memberemployee. A member’s An employee's cash salary shall be equal to said member’s employee's total annual salary wages or salary wages per pay period less the amountamount of the pick-up for said employee and shall be payable, subject to applicable payroll deductions, to said memberemployee. The Board’s 's total combined expenditures for members’ an employee's total annual salaries wages otherwise payable under this Agreement, as amended, (including pickup pick-up amounts) and an its employer contributions to SERS shall not be greater than the amounts it would have paid for those items had this provision not been in effect.
B. The Board shall fulfill compute and remit its income tax reporting and withholding responsibilities employer contributions to SERS based upon total annual salary, including the "pick-up." The Board shall report for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report purposes as an employee’s 's gross income his/her said employee's total annual salary wages less the amount of the "pick-up while applicable up." The Board shall report for municipal income tax laws require it to report purposes as an employee’s 's gross income his/her said employee's total annual salary wages, including the amount of the pick-up. The Board shall income tax withholding based upon gross income as reported to the respective taxing authorities.
C. The pickup pick-up shall be included in the member’s hourly rate employee's total annual wages for the purpose of computing hourly rate, overtime ratedaily rate of pay, for determining pay paid wages adjustments to be made due to absence, or for any other similar purpose.
D. Should the Internal Revenue Service determine that the deferred salary would be treated as current taxable income for federal income tax purposes, this section will be void and inoperable.
Appears in 1 contract
Samples: Negotiated Agreement
SERS PICK-UP. A. For purposes 10.01 The Treasurer of this Articlethe Board shall contribute to the School Employees Retirement System (SERS), in addition to the Board’s required employer contribution, an amount equal to each employee’s contribution in lieu of payment to such employee. The amount contributed by the Board on behalf of the employee shall be treated as a mandatory wage reduction from the hourly wage otherwise payable to such classified employee.
10.02 The total annual salary and salary per pay period wage for each member employee shall be the salary wage otherwise payable under this Agreement, as amendedtheir contracts. The total annual salary and salary per pay period of each member hourly wage shall be payable by the Board in two (2) parts: (1) deferred salary wage; and (2) cash salarywage. A memberAn employee’s deferred salary wage shall be equal to that percentage of said memberemployee’s total annual salary or salary per pay period wage which is required from time to time by the State Employment Retirement System (“SERS”) SERS to be paid as an employee contribution by said member employee and shall be paid by the Board to SERS on behalf of said member employee as a “pickuppick-up” of the SERS employee contribution otherwise payable by said memberthe employee. A memberAn employee’s cash salary wage shall be equal to said memberemployee’s total annual salary or salary per pay period wage less the amountamount of the “pick-up” for said employee and shall be payable, subject to applicable payroll deductions, to said member. employee.
10.03 The Board’s total combined expenditures for members’ employee’s total annual salaries wages otherwise payable under this Agreement, as amended, their contracts (including pickup “pick-up” amounts) and its employer contributions to SERS shall not be greater than the amounts amount it would have paid for those items had this provision not been in effect.
B. 10.04 The Board shall fulfill compute and remit its income tax reporting and withholding responsibilities employer contributions to SERS based upon the total annual wage, including the “pick-up”. The Board shall report for each employee in such manner as is required by applicable federal, state and local laws and regulations as they may exist at the time of such reporting and withholding, it being the Board’s understanding that federal and Ohio income tax laws and regulations presently require it to report purposes as an employee’s gross income his/her said employee’s total annual salary wage less the amount of the “pick-up while applicable up”. The Board shall report for municipal income tax laws require it to report purposes as an employee’s gross income his/her total annual salary income said employee’s total annual wage, including the amount of the “pick-up”. The Board shall compute income tax withholding based upon gross income as reported to the respective tax authorities.
C. 10.05 The pickup “pick-up” shall be included in the memberemployee’s hourly rate total annual wage for the purpose of computing hourly rate, overtime rate, for determining pay salary adjustments to be made due to absence, or for any other similar purposepurposes.
D. Should 10.06 The “pick-up” shall be a uniform percent for all classified employees, and it shall apply to all payroll payments made after the Internal Revenue Service determine effective date of this provision and shall not be at the individual employee’s option.
10.07 This provision shall be effective and the “pick-up” shall apply to all payroll payments made after thirty (30) days after the execution of this Agreement.
10.08 The current taxation or deferred taxation of the “pick-up” is determined solely by the IRS, and compliance with this section does not guarantee that the deferred salary would tax on the “pick-up” will be treated as current taxable income for federal income deferred. If the IRS or other governmental entity declares the “pick-up” not to be tax purposesdeferred, this section will shall be null and void and inoperablethe SERS contribution procedure in place prior to the effective date of this provision shall be in effect.
10.09 In addition, the Board shall pick-up (assume and pay) two percent (2%) of each employee’s contribution to the School Employees Retirement System (SERS).
Appears in 1 contract
Samples: Collective Bargaining Agreement